MANUFACTURING WEAK: U.S. factory activity is contracting as global economies slow and U.S. companies cut back on investments in machinery and other goods. A measure of manufacturing activity ticked down to 49.6 in August, according to a private trade group. Any reading below 50 indicates contraction.
GLOBAL SLOWDOWN: Manufacturing contracted in the 17 countries that use the euro, plus Britain, China, Japan and Brazil. In China, factory activity fell last month to its lowest level in more than three years.
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PRESIDENTIAL RACE: The slowdown comes as the economy is the top issue for most voters. The Democratic convention launches Tuesday as polls show Republican nominee Mitt Romney with an advantage on handling the economy.
